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Electronic Manufacturing Industry Stats and Growth ProjectionsIndustry trends show that there are a variety of factors influencing the industry. There are several key stats that have been singled out because of this. The most notable include:
- Hourly downtime affects the majority of businesses, with 98% saying that it costs them $100,000 per hour or more.
- Predictive maintenance may reduce costs by 20%.
- Predictive maintenance can help avoid unplanned outages by up to 50%.
- Most large companies, 72%, must have 99.99% minimum uptime.
- Electronic manufacturing is expected to grow by roughly 8% by 2025.
- 50% of IoT spending is set to be focused on transportation, logistics, and discrete costs.
- 40% of IoT customers prefer dealing with an established company.
- 63% of companies believe that investing in IoT devices will increase profitability.
- Three-quarters of companies will have digitized their supply changes by 2021.
- Close to a third of companies have already implemented IoT into their devices.